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DOM: 34 Updated: 04.25.23 Posted: 04.07.23 Status: Sold 05.12.23

Summary

Price $1,150,000 $1,600,000
Built/Renov 2003
Tenant Hooters (GL)
Cap Rate 9.74% 7.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,184
Lease Start 08-01-2003
#Units 370
Price/SF $274.86 $382.41
Expiration 07-31-2028
Tenant Type Casual Dining
NOI $112,016
R. Term 3.3
Ownership Ground Lease
Rent/SF $26.77
Increases 15.0%/5/yrs
Pop 5Mi 126,278
Lot/AC 1.34
Options 1/5yrs/15%
AHHI 5Mi $91,057

Lease Highlights

  • Hooters has been operating at this location since 2003
  • The tenant has over 5 years remaining on the current lease term with 1 (5-year) option to extend
  • Lease features 15% rental increase throughout the initial term and at the option period
  • Absolute NNN featuring zero landlord responsibility
  • Corporate guarantee by Hooters of America, LLC

Location Description

Hooters is strategically located along East Valley View Parkway with access to over 5,800 vehicles per day. The site profits from excellent visibility and significant street frontage facing Interstate 70 which sees 96,255 vehicles per day. Hooters is situated as an out parcel to the Costco and Lowe’s anchored shopping center and along a dense retail corridor with many national/credit tenants...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Hooters (GL)
  • Guarantor:Corporate
  • Company:Hooters of America, LLC
  • # Units:370
  • Stock:Private

About Tenant

Hooters is a beach-themed casual restaurant that features music, sports on large flat screens, and a menu that includes seafood, sandwiches, burgers, salads, and of course, the...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 4,148 48,750 127,407
2023 Total Population : 3,976 48,997 128,590
2023 Employed Civilian Pop : 1,610 25,155 65,389
2023 Total Businesses : 445 1,266 4,046
2023 Average Household Income : $ 73,126 $ 102,128 $ 100,277
2023 Total Consumer Spending : $ 125 M $ 1818 M $ 4508 M
2023 Median Age : 43 42 42
2023 Total Households : 1,990 20,738 52,204
2023 Pop Age 25+: Bachelor's Degree : 524 7,874 18,924
2023 Average Home Value : $ 235,156 $ 264,603 $ 266,195
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
2015 5,121 0.13 mi
2015 7,119 0.17 mi
E Valley View Pkwy E Valley View Cir 2015 6,567 0.19 mi
I- 70 S Selsa Rd 2019 51,143 0.19 mi
S Selsa Rd S Little Blue Pkwy 2015 16,202 0.29 mi
E Valley View Pkwy S Herman Ct 2019 55,154 0.30 mi
2015 6,055 0.37 mi
E 47th St E 48 St S 2015 122 0.43 mi
I- 70 S Selsa Rd 2015 6,359 0.46 mi
S Jackson Dr E 39th St S 2015 7,446 0.75 mi

Listing Broker

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